Funding Galore: Startup Fundings Of The Week [15 August – 20 August]

In a bid to firm up market share against rival Amazon, Alibabareportedly held discussions to acquire online marketplace ShopClues, with further plans to merge Paytm with ShopClues. The week also marked rumours of a possible merger of Snapdeal with Flipkart and Myntra, with Kunal Bahl calling it baseless and amusingly terming it as ‘Snapkartazon’.

This week, 16 startups raised about $260 Mn in funding altogether. (The funding amount is based on the startups that disclosed their funding amounts).

Startups That Raised Funding This Week

Buttercups: Bengaluru-based online lingerie brand, Buttercups raised an undisclosed amount in a funding round led by Anand Chandrasekaran and existing investors Kanwaljit Singh and Manoj Varghese. The raised funds will help Buttercups to accelerate its growth plan, both offline and online.

Joolz: Mumbai-based jewellery community and the marketplace Joolz raised $493K (INR 3.3 Cr) in a Pre-Series A round. The funding was led by ah! Ventures with participation from other investors which includes Brittman India CEO Mahesh Ahuja, Powerhouse Ventures MD Sri Peddu, M&S Partners, Ola Cabs ex-CFO Deepak Kasthwal, Cleartrip ex Technology Head PKX Thomas, and Neha Shah. The startup will use the funding to boost operations, products, marketing, and further building up its team.

Hike: Internet-based cross-platform instant messaging service Hike Messenger raised $175 Mn in Series D round of funding, at a valuation of $1.4 Bn. The investment was led by Tencent Holdings and Foxconn Technology Group.

Salebhai: Ahmedabad-based etailer for regional goods Salebhai has raised $1.5 Mn (INR 10 Cr) from Times Group’s Brand Capital. The raised funds will be used to promote and advertise the brand.

Gradopedia: Mumbai-based career discovery & assessment platform Gradopedia raised an undisclosed round of seed funding. The investment was led by Dubai-based investors. The raised funds will be used to build in-house technology.

Maalgaadi: Indore-based Internet-based service platform for cargo transportation, Maalgaadi raised $375K (INR 2.5 Cr) from Swan Angel Network, Sachin Khandelwal, and other investors. The raised funds will be used to explore the intra-city logistics market.

Zipi: A chat-based platform that allows users to avail end-to-end services through an interactive app, Zipi raised undisclosed sum from Swan Angel Network. The raised funds will be used to accelerate sales and tech development.

Appknox: Singapore-headquartered cloud-based mobile security solution Appknox raised $651K (S$875K) funds in a Pre-Series A round. The investment was led by SeedPlus, a seed stage VC firm backed by Jungle Ventures, Infocomm Investments, Accel Partners, and RNT Associates. The raised funds will be used to mark its entry in the Southeast Asia market.

Meesho: A Bengaluru-based app which helps merchants to manage their ecommerce businesses on WhatsApp and Facebook Meesho raised an undisclosed amount of funding. The investment was led by a group of angels including VH Capital, Kashyap Deorah, Rajul Garg, Oyo Rooms’ Maninder Gulati, Abhishek Jain, Jaspreet Bindra among others.

Digio: Based in Bengaluru, tech-based digital signature-enabling platform Digioraised $375K (INR 2.5 Cr) from online discount firm Zerodha. The raised funds will be used for hiring purposes and for operational activities over the next 12-14 months.

Author

Meha has engineering and MBA degrees, but she has always been a writer at heart. It was the perfect combination of utilising her research and analytical skills and her enthusiasm for writing that sparked her interest in writing about the Indian startup ecosystem – the latest tech and gadgets and the startups that create them. She is always on the lookout for industry-specific stories in niche areas of interest such as ecommerce, fintech, greentech and more.